Problem 1-21 (Static) Traditional and Contribution Format Income Statements [LO1-6) Marwick's Pianos, Incorporated, purchases pianos from a large manufacturer for an average cost of $2,450 per unit and then sells them to retail customers for an average price of $3,125 each. The company's selling and administrative costs for a typical month are presented below: Costs Cost Formula Selling: Advertising $ 700 per month Sales salaries and commissions $ 950 per month, plus ex of sales Delivery of pianos to customers $ 30 per piano sold Utilities $ 350 per month Depreciation of sales facilities $ 800 per month Administrative: Executive salaries $ 2,500 per month Insurance $400 per month Clerical $ 1,000 per month, plus $20 per piano sola Depreciation of office equipment $ 300 per month uring August, Marwick's Pianos, Incorporated, sold and delivered 40 planos. equired: Prepare a traditional format income statement for August Prepare a contribution format income statement for August . Show costs and revenues on both a total and a per unit basis dow cough contribution margin. Complete this question by entering your answers in the tabs below.